Cisco Is Hopeful Despite Data Center Decline

Wall Street’s recent turmoil is affecting the way companies are buying data center hardware. That’s one of the big takeaways from Cisco’s quarterly earnings on Wednesday

Cisco logged $11.8 billion in revenue in its fiscal second quarter, a 2% increase from the $11.6 billion during the same period a year earlier. Those numbers don’t include the revenue from the company’s set-top box product line, which Cisco is selling off to Paris-based Technicolor.

The networking giant also reported profits per share of 57 cents excluding certain costs, which beat analyst expectations of 54 cents. Based on the strong results, investors sent Cisco’s shares CSCO1.74% jumping 7.4% in after-hours trading to $24.17.